Important Information About Changes to the Nokia Savings/401(k) Plan’s Investment Funds and Annual Fee and Expense Disclosure

Effective April 3, 2018, Nokia is making changes to the US Large Cap Value Equity Fund, the US Large Cap Growth Equity Fund and the Retirement Date Funds.

As of this date, the US Large Cap Growth Equity Fund and the US Large Cap Value Equity Fund will be further diversified by each adding additional investment managers.

Also, as of this date, the Retirement Date Funds will add the same additional US growth equity and US value equity investment managers as the US Large Cap Growth Equity Fund and US Large Cap Value Equity Fund to further diversify the funds.

No action is required by you as a result of these changes; however, if you would like to change your investment elections for existing balances in or for future contributions to the US Large Cap Growth Equity Fund or US Large Cap Value Equity Fund or the Retirement Date Funds before these changes take effect, you must do so by 4:00 p.m., Eastern Time (ET) on April 2, 2018 by logging on to your Plan account at http://resources.hewitt.com/nokia or by calling the Nokia Benefits Resource Center at 1-888-232-4111 (select the “Retirement and Investments” option). Representatives are available from 9:00 a.m. to 5:00 p.m., ET, Monday through Friday. (Note that the financial markets are closed on Friday, March 30, 2018. Transactions submitted when the financial markets are closed or on weekends are priced as of the next business day’s closing price.)

If you have questions about these changes, about the disclosure/notices, or about your benefits under the Nokia Savings/401(k) Plan, please contact the Nokia Benefits Resource Center at 1-888-232-4111 (1-212-444-0994 if calling from outside the United States, Puerto Rico or Canada), select the “Retirement and Investments” option, from 9:00 a.m. to 5:00 p.m., ET, Monday through Friday.